Sec Form 3 Filing - Ortiz Jennifer @ PROGRESS SOFTWARE CORP /MA - 2021-10-05

FORM 3 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Ortiz Jennifer 2. Issuer Name and Ticker or Trading Symbol PROGRESS SOFTWARE CORP /MA [ PRGS] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) EVP, Corporate Marketing (Last) (First) (Middle) C/O PROGRESS SOFTWARE CORPORATION, 14 OAK PARK DRIVE 3. Date of Earliest Transaction (MM/DD/YY) 10/05/2021 (Street) BEDFORD, MA01730 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 3,735 D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Employee Stock Options (Right to buy) $ 29.25 ( 1 ) 02/16/2024 Common Stock 3,776 D Employee Stock Options (Right to buy) $ 50.69 ( 2 ) 01/11/2025 Common Stock 2,844 D Employee Stock Options (Right to buy) $ 34.73 ( 3 ) 01/21/2026 Common Stock 4,808 D Restricted Stock Units ( 5 ) ( 4 ) ( 4 ) Common Stock 168 D Restricted Stock Units ( 5 ) ( 6 ) ( 6 ) Common Stock 608 D Restricted Stock Units ( 5 ) ( 7 ) ( 7 ) Common Stock 796 D Employee Stock Options (Right to buy) $ 47.16 ( 8 ) 01/20/2027 Common Stock 7,069 D Restricted Stock Units ( 5 ) ( 9 ) ( 9 ) Common Stock 2,446 D Employee Stock Options (Right to buy) $ 42.61 ( 10 ) 01/18/2028 Common Stock 13,514 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Ortiz Jennifer C/O PROGRESS SOFTWARE CORPORATION 14 OAK PARK DRIVE BEDFORD, MA01730 EVP, Corporate Marketing Signatures Stephen H. Faberman, Attorney-in-Fact 10/14/2021 Signature of Reporting Person Date

Explanation of Responses:

( 1 )On February 17, 2017, the Reporting Person was granted 3,776 Employee Stock Options pursuant to Progress Software Corporation (the "Company's") 2008 Stock Option and Incentive Plan. The stock options vested in eight equal semiannual installments beginning October 1, 2017, subject to the continued employment of the Reporting Person with the Company. All options are vested and exercisable. ( 2 )On January 12, 2018, the Reporting Person was granted 2,844 Employee Stock Options pursuant to the Company's 2008 Stock Option and Incentive Plan. The stock options vest in eight equal semiannual installments beginning October 1, 2018, subject to the continued employment of the Reporting Person with the Company. 2,489 options are vested and exercisable. ( 3 )On January 22, 2019, the Reporting Person was granted 4,808 Employee Stock Options pursuant to the Company's 2008 Stock Option and Incentive Plan. The stock options vest in eight equal semiannual installments beginning October 1, 2019, subject to the continued employment of the Reporting Person with the Company. 3,005 options are vested and exercisable. ( 4 )On January 22, 2019, the Reporting Person was granted 1,008 restricted stock units pursuant to the Company's 2008 Stock Option and Incentive Plan. The restricted stock units vest in six equal semiannual installments beginning October 1, 2019, subject to the continued employment of the Reporting Person with the Company. ( 5 )Restricted stock units convert into common stock on a one-for-one basis. ( 6 )On July 1, 2019, the Reporting Person was granted 1,820 restricted stock units pursuant to the Company's 2008 Stock Option and Incentive Plan. The restricted stock units vest in six equal semiannual installments beginning April 1, 2020, subject to the continued employment of the Reporting Person with the Company. ( 7 )On January 21, 2020, the Reporting Person was granted 1,591 restricted stock units pursuant to the Company's 2008 Stock Option and Incentive Plan. The restricted stock units vest in six equal semiannual installments beginning October 1, 2020, subject to the continued employment of the Reporting Person with the Company. ( 8 )On January 21, 2020, the Reporting Person was granted 7,069 Employee Stock Options pursuant to the Company's 2008 Stock Option and Incentive Plan. The stock options vest in eight equal semiannual installments beginning October 1, 2020, subject to the continued employment of the Reporting Person with the Company. 2,652 options are vested and exercisable. ( 9 )On January 19, 2021, the Reporting Person was granted 2,935 restricted stock units pursuant to the Company's 2008 Stock Option and Incentive Plan. The restricted stock units vest in six equal semiannual installments beginning October 1, 2021, subject to the continued employment of the Reporting Person with the Company. ( 10 )On January 19, 2021, the Reporting Person was granted 13,514 Employee Stock Options pursuant to the Company's 2008 Stock Option and Incentive Plan. The stock options v est in eight equal semiannual installments beginning October 1, 2021, subject to the continued employment of the Reporting Person with the Company. 1,690 options are vested and exercisable.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

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